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Aug27
Changing Role of Credit Card Companies
Author: Susanta K Beura; Filed under: Credit Card, Finance & Investment; Tagged as: apply credit card online, apply for visa credit card, apply visa credit card, bad credit credit card offers, balance card credit free transfer, balance transfer card, balance transfer cards, bank credit cards, banks, best credit card offer, best credit card rates, business credit card, card credit student, cash advances, cashback credit cards, company credit cards, core objective, corporate credit card, corporate credit cards, credentials, credit, credit card balance transfer, credit card companies, credit card company, credit card offer, credit card offers, credit card offers for bad credit, credit card payment, credit cards, credit cards offer, credit cards offers, credit score, economy, good credit scores, home renovation, increasing productivity, india credit, interest rate, lowest credit card rates, people, savings account, small business credit card, spendthrift, tide, timely payments, travel credit card, travel rewards credit card, visa credit card offers
No CommentsOver the years, credit cards have played a major role in a spendthrift’s life. Be it in the US or in India, credit cards have eased people’s lives in terms of expenses. Nobody really bats an eyelid before swiping his or her credit card for an impulsive purchase even if their savings account has no funds. If you carry your balances, you need to worry about the interest rate that you are paying on your card. Timely payments, low balances and good credit scores contributes to your credentials as a customer, which earns you favor from your credit card company eventually.
Nevertheless, now the scenario is changing gradually with credit card companies becoming stringent with their clients in terms of offering debt. People who expect their credit card companies to give them a higher line of credit are mistaken as the tide has turned. We don’t know how much impact it will have here in India, but in the US it’s getting slightly difficult now with the new set of rules.
Earlier, people in the US maintained their credit scores by making timely payments, paying off their balances in full and taking lesser cash advances, but now they would need to curtail their expenses. Whether it was home renovation, wedding, holiday or any sort of loan, a low promotional rate on your credit card could easily win you your dream.
The core objective behind the change is increasing debt and default. The banks need to take an action in order to control debt, which would eventually lead to better financial system.
Unless people do not get out of debt, they cannot save or invest. If people wouldn’t invest, economy wouldn’t grow. So, now the good credit score would be determined by the least debt on an account or no debt at all.
Therefore, for a healthy economy, credit card companies are inclined towards increasing productivity and lessening default and debt by limiting customer leverages.
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Aug10
Money Market Mutual Funds, a safer investment
Author: Susanta K Beura; Filed under: Finance & Investment, Mutual Fund; Tagged as: banks, bonds, capital expenditure, chief purpose, economic life, financial consultant, high interest, invest money, investment tools, investments, layperson, losses, money market mutual funds, profits, saving money, savings account, splurge, stocks, suitable investment, sum of money, worry
No CommentsSaving money and then putting it to investment is certainly a wise thing to do. Who wouldn’t like to see his money grow? As we know that there are various investment deals available, it’s important to choose the one that suits you as an individual. Some people simply invest blindly without any knowledge or some splurge and never consider investing. It’s good to pamper yourself once in a while but it’s wiser to think and plan for the future than just live for the day. Investments are one way of assuring a wealthy future. Nevertheless, there are different types of investment tools available. If you are new in the field, it will be good to invest in money market mutual funds. In fact, devoting your savings in mutual funds is the ideal kind of investment. Mutual funds are said to be the most suitable investment for a layperson. The chief purpose in making investments is to draw huge profits. It’s a way of achieving a strong economic life. There are individuals who became monetarily flourishing just because they invested their funds cleverly. It would be good to begin with making small investments and then progress towards the bigger ones. There are good reasons to pick money market mutual funds over other types of funds. Mutual funds do not involve vast capital expenditure. You can initiate an account with a little sum of money with you, contrasting to other investments in which you need big capital like in bonds, stocks and other mutual funds. Due to low risk, you do not even need a financial consultant concerning your investment. It takes away your worry about incurring any losses. Try to invest money in the supposed fund instead of putting it in savings account in a bank. In fact, it’s like hoarding cash in a savings account but it benefits you in a better way. If you choose to save money by keeping it in a bank, it would not pay you very high interest. Generally, banks offer a profit of nearly one percent, whereas money market mutual funds give an average profit of around five percent. The rate of interest can make a big difference in your earnings. You can begin considering bigger investments after the fund has accrued big takings. You can invest in stocks with a bigger capital available. The law of leverage is the only thing that needs a little attention in stocks. Needless to say, you should make some careful research on where you want to invest before deciding on investments. Terms of liquidity are another thing to look at in money market mutual funds. You have the option to take back the money you invested if you need to. During certain unforeseen circumstances, you can eradicate it and use in whatever objective you propose unlike some other investments where you are not allowed to extract your money out. The liquidity aspect of the money market mutual funds has drawn some investors. Investing in the supposed fund is getting admired as an individual will not only produce profits but it’s a kind of secure investment also.
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